FIA opens selection process to find 12th team

Wednesday 11th December 2013, 21:20 by Ryan Wood 

Pirelli

The FIA has confirmed it is seeking a 12th team to join the Formula 1 grid after opening up a selection process to find a new team for 2015.

The regulations stipulate that 13 teams may compete, but after the non-starting USF1 failed in 2010 and HRT in 2012, the grid has shrunk to 11.

In a bid to boost numbers, the governing body has asked any interested parties to submit "a formal expression of interest" by 5pm CET on January 3rd.

Further details will then be released to those candidates who submit a stage one application and a £3,000 ($5,000, €3,600) administration fee.

A second fee totalling £79,350 ($130,000, €94,200) minus the administration fee will be required for those wishing to submit a full application at stage two.

"The FIA has decided to open a new selection process to identify a candidate team to participate at a competitive level in the FIA Formula One World Championship from the start of the 2015 or the 2016 season up to 2020 inclusive," read a statement.

Should a successful candidate be found, a decision will be made on February 28th .

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